Danone targeted by activist investor

TheStar Wed, Aug 16, 2017 09:50am - 6 years View Original


Significantly undervalued: Danone’s stock rose as much as 2.9 in early Paris trading, leading gains in France’s benchmark CAC 40 Index. — Bloomberg

Significantly undervalued: Danone’s stock rose as much as 2.9 in early Paris trading, leading gains in France’s benchmark CAC 40 Index. — Bloomberg

NEW YORK: Corvex Management, the activist fund run by Keith Meister, has built a stake in French yogurt maker Danone because it views the company as significantly undervalued, according to people familiar with the matter.

The New York-based hedge fund owns shares in Danone worth about US$400mil, said the people, who asked not to be identified because the investment hasn’t been publicly disclosed.

The stock rose as much as 2.9% in early Paris trading, leading gains in France’s benchmark CAC 40 Index.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

NESTLE 118.100

Comments

Login to comment.